Desktop Quickstart Guide
Getting started with Dolomite on mobile is quick and easy. This guide will walk you through every step from setting up a wallet to trading and earning on Dolomite. Feel free to move past the steps you're already familiar with or have already completed.
Preparing your wallet
1. Get the MetaMask extension for your browser | 5 minutes
- Go to https://metamask.io/download/ (we recommend you use Brave Browser or Google Chrome)
- This will allow your wallet to interact with crypto-enabled web pages such as Dolomite.
- After installing, you’ll have to go through a brief initial setup to set a password and store your recovery phrase. Follow any instructions it shows you.
2. Add the Arbitrum network to MetaMask | 1 minute
Dolomite currently runs on an Ethereum layer 2 called Arbitrum. Arbitrum is the most widely used Ethereum Layer 2, and allows users to interact with Dolomite with much lower gas fees and much faster transaction times.
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Click the MetaMask icon on your toolbar at the top of your browser window to the right of your URL bar.
- On Chrome if you don’t see the MetaMask icon, click the puzzle piece icon and it will let you select MetaMask from a dropdown.
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Click the colored circle in the top right of the MetaMask window
- Yours will be different colors than the one in this image, it is unique to your wallet
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Select “Settings” from the dropdown menu that appears
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Scroll down to the “Networks” menu option and click it.
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Click the “Add Network” button.
- On the page that opens, enter the following information into the available fields:
Network Name: Arbitrum One
Chain ID: 42161
Block Explorer URL: https://arbiscan.io/
New RPC URL: https://arb1.arbitrum.io/rpc
Currency Symbol: ETH
- Click “Save”
- You've successfully added Arbitrum to MetaMask!
- Now when you click on your network selector at the top of MetaMask, you will see "Arbitrum One" as an option along with "Ethereum Main Network". You can freely switch between the two networks from here, depending on if you want to interact with the Ethereum main net or the Arbitrum network.
- If your wallet has assets on the Ethereum main net and you switch your wallet to Arbitrum, you won't see your assets displayed in your wallet any more. Don't worry, this is normal. When you have Ethereum main net selected as your network, it shows the assets that exist in your wallet on Ethereum. When you switch to Arbitrum, it displays the assets in your wallet on Arbitrum. in order to move your assets over from Ethereum to Arbitrum and use them on Dolomite, you'll need to "bridge" your assets.
- Once your assets are bridged to Arbitrum, you will see them when Arbitrum is your selected network on MetaMask. You will then be able to use those assets on Dolomite, as well as hundreds of other dApps that run on Arbitrum.
3. Fund your wallet | 5 minutes
- If you already have an Ethereum wallet, you can import it into MetaMask by following the instructions here.
- If you have Ethereum on an exchange, you can send it to your new MetaMask wallet. Click the MetaMask icon on your toolbar.
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Click on your wallet address to copy it to your clipboard.
- Your wallet address is located at the top center of the MetaMask window.
4. Bridge your assets to Arbitrum | 10-60 minutes (depending on congestion)
- To bridge your assets to Arbitrum, you'll want to go to the Arbitrum Bridge.
- For a complete guide on how to bridge your assets to Arbitrum, we recommend following the official Arbitrum Bridge Tutorial.
5. Go to Dolomite
Now that you have your wallet set up, assets bridged and ready, and know how to use the MetaMask browser, you're ready to go to Dolomite!
- Make sure you have "Arbitrum One" selected as your network.
- Go to https://app.dolomite.io/ and click "Connect Wallet" in the lower left corner of the screen if your wallet doesn't connect automatically.
- You're ready to start trading and earning on Dolomite!
Using Dolomite
This guide will walk you through getting started using the basic features on Dolomite. Once the assets are on Dolomite, they'll be available for trading and will immediately begin earning interest.
1. Navigating Dolomite
When you first go to Dolomite you will likely be on the main exchange page.
To get to other pages, such as the balances page where you can deposit and withdraw assets from your wallet, click the menu icon in the upper right corner of the screen to open the navigation menu. From there you can navigate to anywhere in the Dolomite application.
2. Depositing crypto from your MetaMask wallet into Dolomite.
To begin trading and earning on Dolomite, you will need to deposit assets from your wallet onto Dolomite.
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The panel on the lower left is what you use to deposit tokens to or withdraw tokens from Dolomite.
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Select the token you’d like to deposit from the dropdown on the right of the input field. We suggest not depositing ETH, as you will need ETH to pay for any transactions you do on Dolomite.
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Enter the amount you’d like to deposit.
- If this is the first time depositing that token onto Dolomite, you’ll first be asked to “unlock” the token. This only has to be done once per token, and essentially is your wallet allowing Dolomite to work with your token in future transactions you initiate.
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Click the “unlock” button
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In the MetaMask window that pops up, scroll down and click “Confirm”.
- If you don’t see a popup from MetaMask, click the MetaMask icon on your toolbar, which should be displaying a “1” to indicate you have a transaction to be confirmed
- Wait for the unlock transaction to complete. There’s no need to reload the page, it will update automatically when the transaction completes. This usually takes around 15 seconds, but in rare cases could take a couple of minutes.
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After the token is unlocked, the button will display “deposit”.
- Click it to deposit your tokens onto Dolomite from your MetaMask wallet, approving the transaction on MetaMask when prompted. This again will usually take around 15 seconds to complete and there’s no need to reload the page, it will update automatically.
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After the deposit is completed, you will see it reflected in your balance on Dolomite on the panel on the right.
- Repeat the process for the other assets you’d like to deposit and use for testing. We recommend depositing at least some WETH, DAI, and USDC.
- We do not recommend depositing ETH, since it is used to pay the gas fees for transactions on Dolomite. Rather, deposit WETH tokens which are effectively the same, but are not used to pay the gas fee for transactions.
Congratulations, you have tokens on Dolomite and are ready to use all of Dolomite’s features!
3. Add to a liquidity pool
By being a liquidity provider, you can earn trading fees as traders use the pool that you supply liquidity to. These fees are earned in addition to the margin lending interest that your assets earn just by being on Dolomite.
- Manage pools here: https://app.dolomite.io/pool
- You can add to a liquidity pool on the Pool page. Dolomite’s trading is built on AMM Pools, which essentially means that all trading is done against pools of liquidity provided by users, allowing the community of users to be the exchange’s market makers, as well as earn rewards from trading fees.
- The traders pay a fee on every transaction, and most of that goes to liquidity providers. You can be one of those liquidity providers by adding your tokens to a liquidity pool (a pool of two assets that people will trade against), and you’ll earn interest on those funds in the form of fees paid by traders (in addition to interest paid by margin traders).
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To add to a pool, select the two assets for the pool you'd like to contribute to. When you select the assets, you can see the current interest that the pool is paying, however this changes depending on usage and liquidity.
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Then click the deposit button. On the panel that comes up, enter the amount that you'd like to deposit. You will need to deposit equal values of both assets. When you've entered the amount, click the submit button, and approve the transaction on MetaMask.
4. Trade tokens
Dolomite offers easy Uniswap-style swapping of tokens.
- Navigate to the trade page: app.dolomite.io/trade
- When you've entered the amount you'd like to trade, click the submit button to initiate the trade. You'll be prompted to approve the transaction on MetaMask, and once you do, the trade will be executed. It should only take a couple of seconds to process.
- Placing trades will move the market price on the exchange. For example, on the ETH/USDC market, buying ETH will increase its price. The size of this price move corresponds to the amount of liquidity currently in the liquidity pools. The same size trade will have a larger price impact on a less liquid pool compared to a more liquid pool.
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Select the two assets you'd like to trade between using the dropdowns at the top of the page.
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Use the chart and stats tabs at the top of the page to learn more about the market. The chart tab shows you a TradingView chart with price history of the market, and the stats tab shows you a depth chart of liquidity in the market as well as other relevant market stats.
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When you've selected the assets you'd like to trade between, you can toggle the "from" and "to" asset by clicking the arrow between the two input fields.
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Enter the amount of the "from" asset that you'd like to trade to the "to" asset, or enter the amount of the "to" asset that you'd like to receive, and the other amount will be calculated for you.
5. Open a margin position
On Dolomite you can open a leveraged margin position using any listed asset against any other listed asset. This allows you to earn greater returns on price movements than you would with a spot trade, but also exposes you to greater risk.
- Navigate to the trade page: https://app.dolomite.io/trade
- To open a margin position, start by selecting the assets you'd like to trade at the top of the page.
- Next, select the "Margin" tab on the trade panel.
- You'll see one asset marked as "short" and the other as "long". Because Dolomite allows you to margin trade any listed asset against any other listed asset, there is no set "base" asset to margin trade against. Instead, your position gains value when the "long" asset gains value against the "short" asset. This can be use for more traditional margin trades, such as longing ETH against USDC, where the position gains value as ETH goes up in USDC price. But it can also be used for more interesting trades, such as longing ETH against WBTC (the position gaining value as ETH gains value against BTC), or longing LINK against ETH (the position gaining value as LINK gains value against ETH). Those positions can also be interpreted in reverse, for example longing LINK against ETH is the same as shorting ETH against LINK, meaning the position gains value as ETH loses value against LINK.
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When you've settled on your long and short assets, you'll want to select your leverage. The greater the leverage, the greater the potential reward, but also the greater risk. A 2x leverage position will gain value twice as fast as the price increases, but it will also lose value twice as fast. A 20% drop in price will be enough to liquidate a 5x position. Choose wisely.
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Enter the deposit amount for your position. This is the amount that will be deposited as collateral for the position, and the total position size will be the deposit amount multiplied by the leverage.
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When you've entered your deposit amount, you can see information such as the total position size, the trade amount, liquidation price, and more below the "Open Position" button.
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When you're ready to open the position, click the "Open Position" button. You'll be prompted to approve the transaction on MetaMask, and once you do, the position will be opened. It should only take a couple of seconds to process.
6. Manage a position
You can manage your open positions to check their profit or loss and how close they are to liquidation, as well as add and remove collateral from the position to manage its health.
- Your open positions can be seen on the panel at the bottom of the page after clicking the "Positions" tab. The number of open positions is shown next to the tab.
- For each open position, you can see which assets are involved, the leverage, the profit/loss, and the liquidation price.
- Click on a position row to expand it for more information.
- After clicking to expand, you can click the "Manage Position" button to see more information and manage the position.
- The manage position panel that comes up after clicking "Manage Position" displays more information about the position, and also allows you to add and remove collateral from the position.
- Removing collateral will bring your position closer to liquidation, and adding collateral can help to avoid liquidation.
- Click the "Add/Remove" button next to where your position's collateral is displayed to add or remove collateral from the position.
- As you type an amount into the input field, you will see its effect on the position, including the new liquidation price, leverage, collateralization rate, and more.
- Currently you cannot withdraw more collateral than the amount of your initial deposit.
- From the manage position panel or from the expanded position row, you can click the "Close Position" button to close your margin position, returning your collateral with any profit added or losses removed.
Check your account history
The History page makes it easy to look back at all your trades, transfers, and pool interactions.
- Navigate to the History tab or this link: https://app.dolomite.io/history
- This is a history of your deposits and withdrawals on Dolomite, as well as your trades and margin positions.
- You can click on rows to expand them to show more information. For margin positions, this will show the transactions that occurred to that position when applicable, such as opening the position, adding or removing collateral, and closing the position.
- The transfers tab shows all deposits and withdrawals from your wallet onto Dolomite, with the amounts and the date.
- The pooling tab shows all your liquidity pool interactions.